SelectQuote (NYSE:SLQT) Stock Price Up 5.9% – Here’s Why

SelectQuote, Inc. (NYSE:SLQT)’s stock price was up 5.9% on Friday . The stock traded as high as $4.11 and last traded at $4.10. Approximately 272,856 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 684,569 shares. The stock had previously closed at $3.87.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SLQT shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.00 price target on shares of SelectQuote in a research report on Friday, November 22nd. Craig Hallum assumed coverage on SelectQuote in a research note on Monday, September 30th. They issued a “buy” rating and a $4.50 price target on the stock.

SelectQuote Price Performance

The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 2.36. The company’s 50 day moving average price is $2.80 and its 200 day moving average price is $2.93. The company has a market cap of $687.74 million, a price-to-earnings ratio of -14.32 and a beta of 1.22.

SelectQuote (NYSE:SLQT) last released its earnings results on Monday, November 4th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). SelectQuote had a negative net margin of 3.45% and a negative return on equity of 15.00%. The business had revenue of $292.26 million during the quarter, compared to analyst estimates of $275.15 million. During the same period last year, the business posted ($0.19) EPS. Equities research analysts forecast that SelectQuote, Inc. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SLQT. Bank of New York Mellon Corp lifted its position in shares of SelectQuote by 14.1% in the second quarter. Bank of New York Mellon Corp now owns 472,849 shares of the company’s stock valued at $1,305,000 after acquiring an additional 58,481 shares in the last quarter. American Century Companies Inc. raised its position in shares of SelectQuote by 58.1% in the second quarter. American Century Companies Inc. now owns 120,751 shares of the company’s stock valued at $333,000 after buying an additional 44,392 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of SelectQuote by 158.8% during the second quarter. Dimensional Fund Advisors LP now owns 278,224 shares of the company’s stock valued at $768,000 after buying an additional 170,726 shares during the period. Renaissance Technologies LLC raised its holdings in SelectQuote by 6.5% in the 2nd quarter. Renaissance Technologies LLC now owns 726,997 shares of the company’s stock valued at $2,007,000 after acquiring an additional 44,397 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of SelectQuote during the second quarter worth $545,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

SelectQuote Company Profile

SelectQuote, Inc operates a technology-enabled, direct-to-consumer distribution platform that sells a range of insurance products and healthcare services in the United States. The company operates through three segments: Senior; Life; and Auto & Home. It distributes senior health policies, such as medicare advantage, medicare supplement, medicare part D, and other ancillary senior health insurance related products, including prescription drugs, dental, vision, and hearing plans; life insurance products, such as term life, final expense, and other ancillary products, including critical illness, accidental death, and juvenile insurance; homeowners, auto, dwelling fire, and other ancillary insurance products; and non-commercial auto and home property, and casualty policies.